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How Can a Stay-at-Home Parent Prepare for Divorce in Illinois?
There are many reasons why a couple may decide for one parent to stay at home with the children rather than pursuing a career. In some situations, a family simply cannot afford childcare, so a parent may stay home out of necessity. Other families may choose to have one parent dedicate their time to caring for children and maintaining the household. Today, the role of homemaker is not limited to women. In fact, more fathers are becoming stay-at-home dads, according to research published in Psychology Today. Regardless of a person's gender or their reasons for becoming a homemaker, divorce as a stay-at-home parent can seem intimidating, and it can cause a great deal of uncertainty about the future. If you did not work outside of the home during your marriage, and you are facing a divorce, you will want to work with an experienced family law attorney who can guide you through the legal process of divorce and help you create a secure future.
How Is a Family Business Handled During a Divorce?
During a couple's marriage, they may start a business, either together or separately. If the couple chooses to get a divorce, they must address how ownership of this business will be handled. As with other assets, interests in a family business must be addressed as part of the equitable distribution of marital property. To ensure that business interests are divided fairly, a business valuation may need to be performed to determine the actual value of business assets. There are various approaches to this process, so it is important to understand the differences to determine which one is appropriate for your company.
Business Valuation Methods
Multiple methods can be used to estimate how much a business is worth. One way of determining a business's value is by looking at the assets owned by the business. An asset-based approach is often better for larger companies that have business assets separate from the owners' personal assets. In smaller companies, a person's personal and business funds often overlap, which can make this approach more difficult. There are two asset-based valuation approaches that are typically used by business valuators: going concern, in which a business's liabilities are subtracted from the net balance of its assets, and liquidation, which looks at the potential profits earned by selling off all of the business's assets.
What Are My Legal Rights as a Surrogate Mother in Illinois?
Infertility can be emotionally and physically draining on a couple, but unfortunately, it is not uncommon. The Centers for Disease Control and Prevention (CDC) estimates that nearly 16 percent of married women struggle with infertility, while almost 9 percent of women are clinically diagnosed as infertile. For those women who cannot have a child of their own, surrogacy enables a couple to raise their own biological child. A woman who chooses to serve as a surrogate can help couples achieve their dream of raising a family, while she herself may receive compensation for her services, making this both emotionally and financially rewarding. If you are considering becoming a surrogate, speaking with an experienced family law attorney can help you navigate the legal matters pertaining to this serious endeavor.
Requirements of the Surrogate
Because a surrogate is entrusted with carrying someone else's child, it is understandable that she will be carefully selected. To best protect the child, a prospective surrogate may undergo several medical tests to ensure that she is in the best health for carrying and delivering a baby. According to Illinois’ Gestational Surrogacy Act, a surrogate must:
Three Tips for Preventing Identity Theft After the Death of Loved One
Many people do not realize it, but taking steps to prevent identity theft is an important part of estate planning. Sadly, more and more criminals are taking advantage of grieving families by stealing the identities of deceased individuals. An identity thief can use a deceased person’s name and personal information to obtain and use credit cards that are in the deceased person’s name, apply for loans, falsify tax returns, and more. If your loved one’s identity is stolen after they pass away, you will be burdened with resolving the issue with law enforcement and financial institutions. Follow these steps to minimize the chances of your loved one’s identity being stolen after they pass away.
Tip #1: Notify Interested Financial Companies of the Death
When a loved one dies, it is usually up to the executor of the estate to contact financial institutions and close accounts. It is important to do this as soon as possible. Unscrupulous individuals can take advantage of the window of time between when an individual dies and when the decedent’s finances are settled. Contact every bank that your loved one had an account with and notify them that your loved one has passed away. You should notify the banks even if the deceased person’s spouse or another person is still listed on the accounts. You will also need to notify any lenders, mortgage companies, or investment companies your loved one had business with.
Can I Move If I Am the Custodial Parent in an Illinois Divorce?
Whether for personal or professional reasons, people can move down the block or across the world. Many individuals have the freedom to do this at any time, but after a divorce when two parents share the responsibility for a child, this privilege may be restricted. Studies show that up to a quarter of custodial parents move away from the area where they lived as a married couple within two years of their divorce. When a parent considers moving after a divorce, some stipulations must be met to protect the rights of their child and the other parent.
Parental Relocation Rights in Illinois
In Illinois, the term "child custody" is now referred to as the "allocation of parental responsibilities," and parents will both have "parenting time" with their children. While the law no longer refers to a "custodial parent," a parent who has the majority of the parenting time or shares equal parenting time may be required to obtain approval before moving to a new home with their child. For a parent living in Cook County, he or she can move with the child up to 25 miles without needing approval from the court. This distance limit applies across state boundaries. DuPage, Kane, Lake, McHenry, and Will Counties follow the 25-mile rule as well, but for all other counties in Illinois, a custodial parent may move up to 50 miles from his or her original home.
What is the Right of First Refusal in an Illinois Parenting Plan?
The law in Illinois requires divorcing parents to submit a plan for how they intend to care and provide for their children. Parenting plans include provisions for how child custody, officially called the allocation of parental responsibilities in Illinois, should be managed, as well as several other child-related concerns. One part of Illinois parenting plans that often gets overlooked is the “right of first refusal.” Read on to learn what the right of first refusal is and how you can include directions about extra parenting time in your parenting plan.
Maximizing Parenting Time With Right of First Refusal Provisions
If you are a parent who is getting divorced, you may worry that you will not get to spend as much time as you want to with your child once the divorce is finalized. Parents who are used to seeing their children every day can understandably have a difficult time adjusting to a parenting schedule where they see their children less often. The right of first refusal refers to the right that parents have to spend time with their children when the other parent cannot fulfill his or her parenting time obligations.
Selecting the Right Executor for Your Estate
Preparing a will is, for many people, the cornerstone of estate planning. For some, a will can be enough to cover much of their estate, while others may require additional planning instruments to meet their needs when they are gone. Regardless of the size of your estate, choosing an individual to oversee the execution of your will is one of the most important determinations that you will have to make during the estate planning process. A person or entity tasked with such responsibility is called an executor in Illinois-sometimes known as a personal representative in other states-and should be worthy of the trust that you have placed in him or her to protect your assets and property.
Duties of the Executor
An executor may be a financial institution, trust company, or other entity, but in most situations, it is an individual person, often a friend or family member. Upon your death, your executor will be responsible for:
3 Tips for Preventing a Contentious Divorce in Illinois
According to the American Psychological Association (APA), data from the National Survey of Family Growth shows that 48 percent of marriages end when they hit the 20-year mark. Despite this evidence and the colorful divorce horror stories we all hear from our friends, family members, and neighbors, the reality is that not all couples who make up these kinds of statistics experience a toxic divorce. Many spouses are not only able to make a mutual decision to end their marriage, but they are also capable of navigating the process amicably, even acting as a team to ensure a smoother experience for everyone involved.
Avoiding a Contested Divorce
Not every divorce is messy, but those that are can have the power to wreak havoc on your emotional -- and sometimes physical -- well-being, especially if you do not know how to handle the conflict.
While you cannot control your partner’s choices and behavior during the divorce, you can control your own response to whatever comes your way. For this reason, divorce psychology experts place a big emphasis on the importance of being proactive when it comes to your role in a high-conflict separation.
In the Spirit of the Upcoming Holidays, Consider Mediation for Your Illinois Divorce
Issues of family law, including divorce, parental responsibility concerns, and child support, can become extremely contentious and stressful. Too often, the opposing parties become so focused on “winning” or proving a point that they lose sight of the real matters at hand. This can be especially tragic when children are caught in the middle, as they often become collateral damage when they should be the primary focus.
If you are in the midst of an ongoing legal struggle, there is, unfortunately, no quick fix. But despite being a popular Hollywood cliché, you may choose to take some inspiration from the spirit of the Christmas season. Perhaps, instead of continuing to find ways to “win,” consider proposing a more cooperative approach to settling your differences. For many families, mediation may be just the solution they need.
How Is Ownership of Family Pets Handled During an Illinois Divorce?
According to research by the American Pet Products Association (APPA), 68 percent of U.S. households include at least one pet. Pets are often considered members of the family. Owning a dog, cat, or another animal has social and emotional benefits for adults and children alike. Pets are technically considered property, but under Illinois law, they are treated differently than a house, car, or other physical assets during a divorce. Therefore, it is important for pet owners who are divorcing to understand their rights regarding who gets to keep the family pet.
Marital Property and Equitable Distribution
Under Illinois divorce law, marital property is divided based on what is fair. This is called "equitable division." Instead of a 50/50 split of assets, property and assets are split dependent on factors such as the length of the marriage, each spouse's contributions to the marriage, and the decisions made regarding the custody of children. Every divorce is unique, and an arrangement that may work for one couple may not work for another family.
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